Did you goof and incorrectly classify an employee as an independent contractor?
No need to panic. I can show you a perfectly legal way to avoid payroll taxes, penalties, and interest if you’ve incorrectly classified workers as 1099 independent contractors rather than W-2 employees.
Want to find out more? I invite you to read my new article titled Tax Tips: New IRS Forgiveness Program for Improper 1099 Payments to W-2 Employees Is Not the Gift It Appears to Be.
Three ways our fact-filled article can help you:
- We’ll explain the new IRS “ceasefire.” The IRS used to be very tough on business owners who misclassified their employees. But in September, 2011, the IRS decided to take a much softer approach and introduced the Voluntary Compliance Settlement Program (VCSP). It may be perfect for you. Get the facts when you read the full article.
- We’ll tell you if you qualify for the VCSP program. To be eligible for relief under the program, you must meet five criteria. We’ll spell them out for you and explain how to apply them. To get this important information, read the full article.
- You’ll learn how to take advantage of Section 530 relief. If it turns out that the VCSP alternative doesn’t work for you, we’ll explain how the Section 530 employer protection plan can save your bacon. If you qualify, Section 530 can work even better than the VCSP program. We’ll have details for you when you read the full article.